WACOT to complete 120,000-ton Rice Mill Expansion Project in 15 Months

WACOT Rice Nigeria Limited, a subsidiary of Tropical General Investments (TGI) Group, has announced that the ongoing expansion of its 120,000-ton rice mill in Argungu, Kebbi State, would be completed in the next 15 months.

Alhaji Farouk Gumel, Chairman of WACOT Rice, made this disclosure recently during a visit to inform the Kebbi State Governor, Senator Abubakar Atiku Bagudu, on the ongoing expansion.

WACOT Rice is currently doubling the capacity of the rice mill the Vice President, Prof. Yemi Osinbajo, commissioned in 2017, while the construction of the new rice mill is being carried out with support from First Bank Nigeria.

Gumel, who reassured of the company’s commitment to the economic development of Kebbi State and Nigeria, stated that WACOT Rice will recruit and train more Kebbi indigenes to beef up its workforce once the project is completed.

He commended Governor Bagudu for providing an enabling environment for the company to optimally thrive.

In his response, Governor Bagudu applauded WACOT Rice Limited for transforming the economic landscape of Kebbi State.

The governor disclosed that the current expansion of the firm from its initial installed capacity of 120,000 metric tonnes to 240,000 metric tonnes was an indication of the tremendous confidence it had in the economy of Kebbi state and Nigeria.

He announced that the company was also expressing confidence in the policies of President Muhammadu Buhari aimed at bolstering food production, especially rice.

According to the Governor, the company has been making tremendous contributions to Kebbi state under its corporate social responsibility projects, including assisting over 300 women to participate in its value chain.

“WACOT in addition to doubling capacity have been of tremendous assistance to Kebbi. They have supported Argungu Fishing Festival, and a lot of our other festivals, they have done a lot of corporate social responsibility. These efforts of WACOT are showing how much Nigeria has and more companies are following suit,” Bagudu said.

He therefore expressed his confidence that the price of rice will stabilize soon and that it would be favourable to both farmers and consumers.

WACOT Rice Limited is a member of the Tropical General Investments (TGI) Group, a global conglomerate with majority of its investments based in emerging markets.

TGI’s investments focus on driving inclusivity and value addition using locally sourced raw materials, state-of-the-art manufacturing facilities and a highly skilled workforce to produce world class products that are consumed both locally and exported to global markets.